European Stocks Gain; Treasuries Steady Before CPI

Stocks in Europe gained on the back of positive economic data from the region’s biggest economy, following a mixed session in Asia as Japan’s currency hurtled to a 15-month high. The dollar extended its decline while Treasuries steadied before a key U.S. inflation report.

The Stoxx Europe 600 Index climbed, led by media shares, after Japan’s Topix index earlier fell to a four-month low as the yen’s advance hurt the nation’s stocks. Futures on the S&P 500 Index rose as did shares in Hong Kong and Seoul. Stocks fluctuated in Shanghai before a week-long Lunar New Year holiday. Bunds gained as data showed Germany’s economic upswing extendedinto the fourth quarter, buttressing growth in the euro area as policy makers prepare to wind down monetary stimulus. Gold also rose, giving the moves the flavor of a shift to havens.

The Stoxx Europe 600 Index increased 0.6 percent at 373.00 as of 8:06 a.m. London time.